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let's go to steve grasso. a remarkable run for the stock. i've asked the question on more than one occasion, whether it's style or substance that's behind the move. >> if you look at it, this is a technical call there. there is the appearance of a triple top. you have to look at 20102010, 2. 1915ish. if we can cross over that, you're looking at the same thing. >> are you worried that once the halo, so to speak, that the street has given melissa myer the benefit of the doubt. once reality has set in that her job is big that the stock is going to fade? >> i don't know what reality is going to set in. they've been able to monetize alibaba. there's still money there. they're cash plentiful at this point. there were rumors about maybe a special differ but i think they'll probably ratchet up their corporate repurchase. so all those things are positive and i think it's all of it enough to get it back in the mid 20s. >> i'm going to let you run. but what about this mcdonald's debate? do you want to chime in on it. >> i love the mcrib likemy brother
let's go to steve grasso. a remarkable run for the stock. i've asked the question on more than one occasion, whether it's style or substance that's behind the move. >> if you look at it, this is a technical call there. there is the appearance of a triple top. you have to look at 20102010, 2. 1915ish. if we can cross over that, you're looking at the same thing. >> are you worried that once the halo, so to speak, that the street has given melissa myer the benefit of the doubt. once...
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steve jobs, this is the first year next year where we're really in the post-steve jobs era. we have the margin mix, slowing growth. you would expect multiple compression on that, but don't forget they come out with a big product our big number, psychology can change in a minute. >> if you take a look at the sector they play, they're selling at a significant premium so the com uponants of their business, whether it's smartphones or whether it's pcs. granted they're macs, not p.m. cs, but they're selling down six, seven times. >> totally fair, but i mean, look at dell and look at hp versus apple. every single business apple has is growing very nicely. they have a wonderful new phone out there, the smartphone market has tremendous growth. >> i agreed. i just think you have time. for the first time we're seeing the steve jobs premium as you mentioned come out of the stock and wonder what's next on the product cycle. >> if you say you have time, you've got time. >> well, thank you. >> how diplomatic. henry, good to talk with you as always. thanks for coming on. >> thank you for h
steve jobs, this is the first year next year where we're really in the post-steve jobs era. we have the margin mix, slowing growth. you would expect multiple compression on that, but don't forget they come out with a big product our big number, psychology can change in a minute. >> if you take a look at the sector they play, they're selling at a significant premium so the com uponants of their business, whether it's smartphones or whether it's pcs. granted they're macs, not p.m. cs, but...
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today as steve will be, what would your first question to him be? >> my questions would be about dividends and capital gains as they're market related. with the dividends we've seen a tremendous amount of companies bring them forward in the name of tax avoidance. in both france and england we've seen a tremendous amount of steps taken for tax avoidance when they hire -- >> people leave. >> my only question, there have been studies done on that in the united states to figure out what the effect would be. my second question would be, back in '08 when the president was debating hillary clinton accepted the concept that every time we've raised capital gains tax, the receipts from that have gone down. every time we've lowered it, they've gone up. he accepted that. i want to know if his opinion is modified or is he considering laying off tax and business investment for fear that it will give us less of it. >> two very interesting questions there about what effect a change in taxes does to behavior. i think you can't deny the fact that it does change behav
today as steve will be, what would your first question to him be? >> my questions would be about dividends and capital gains as they're market related. with the dividends we've seen a tremendous amount of companies bring them forward in the name of tax avoidance. in both france and england we've seen a tremendous amount of steps taken for tax avoidance when they hire -- >> people leave. >> my only question, there have been studies done on that in the united states to figure...
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though i do agree with steve's statement. that statement yesterday introduced a whole new level of ambiguity. and while i don't understand is, where did the -- where did their commitment to 2015 go? you may -- they make decisions -- >> the tendency projection between 6 and 8% in 2015 so they just swap one number for the other. >> i understand. but the thing is, if the feds, if dr. bernanke's policy is one that encourages more transparency from the fed and they are going to use this means of communication, then have you to be consistent. the minute we aren't consistent on that -- >> back to the original question, what does it maeb ean terms of prediction for 2013? >> don't ignore her. >> i am not used to being ignored. >> really, tie it all in. >> basically when you are facing a world -- let me back up one second. i could colorado hauld have giv advice three and half years ago. and if you had just done that and chaenged, you would be a winner. think i everyone gets too caught up in drn- >> what was the advice. >> be long secur
though i do agree with steve's statement. that statement yesterday introduced a whole new level of ambiguity. and while i don't understand is, where did the -- where did their commitment to 2015 go? you may -- they make decisions -- >> the tendency projection between 6 and 8% in 2015 so they just swap one number for the other. >> i understand. but the thing is, if the feds, if dr. bernanke's policy is one that encourages more transparency from the fed and they are going to use this...
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even steve jobs used to eat there." and mona's sort of taken aback and bites her tongue and doesn't say, "steve jobs is your son." but she looks shocked, and he says, "yeah, he was a great tipper." >> and i was in that restaurant once or twice, and i remember meeting the owner, who was from syria, and it was most certainly him, and i shook his hand, and he shook my hand, and that's all. >> and jobs never spoke to him, never talked to him, never got in touch with him, never wanted to see him. [ticking] >> coming up, steve jobs delays cancer surgery. >> how could such a smart man do such a stupid thing? >> you know, i think that he kind of felt that if you ignore something, if you don't want something to exist, you can have magical thinking, and it had worked for him in the past. >> more steve jobs when 60 minutes on cnbc returns. lots of prepaid cards come pre-filled with problems. enough is enough. introducing the chase liquid reloadable card. with chase liquid, there's no waiting and no fee to activate you can load cas
even steve jobs used to eat there." and mona's sort of taken aback and bites her tongue and doesn't say, "steve jobs is your son." but she looks shocked, and he says, "yeah, he was a great tipper." >> and i was in that restaurant once or twice, and i remember meeting the owner, who was from syria, and it was most certainly him, and i shook his hand, and he shook my hand, and that's all. >> and jobs never spoke to him, never talked to him, never got in touch...
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steve sedgwick -- steve sedgwick with more. steve? >> reporter: hey, just head the prompt. it's me in vienna. it does feel like winter, minus three here. but i can tell you that opec should be happy. it is producing nearly 31 million barrels a day. it's got brent over $108 a barrel. brent will be over $110 a barrel on average for 2012. for the first time ever. olympic making a trillion dollars in -- opec is making a trill dollars trillion dollars in oil. they're worry good oversupply going into 2013. they are concerned that the call on their oil is going to be less than 30 million barrels a day even though they're producing the best part of 31 million barrels ail day. surely they should be taking a little off the table if they want to keep it at current levels. the problem is they don't take any off the table officially. it would send out the wrong message politically. but there's a real concern that oecd inventories, the consuming, western nations, eventually got inventories above 59 days, which is the first time we've seen that in 2012. and it's above the average over the
steve sedgwick -- steve sedgwick with more. steve? >> reporter: hey, just head the prompt. it's me in vienna. it does feel like winter, minus three here. but i can tell you that opec should be happy. it is producing nearly 31 million barrels a day. it's got brent over $108 a barrel. brent will be over $110 a barrel on average for 2012. for the first time ever. olympic making a trillion dollars in -- opec is making a trill dollars trillion dollars in oil. they're worry good oversupply...
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i don't think it's over and we do think it will rebound next year. >> steve, good to have you on the show, appreciate it so much. >> thank you. >> steve milunovich from ubs. >> you made a good point before we came on air and what it was i thought about is that we're seeing some notable hedge funds suffer big withdrawals at the end of the year. apple was a key holding for the hedge funds, they're liquidating the decisions and expectations of redemption. if that's the case you want to buy apple. >> there are a million different reasons flying around the street, whether it's a technical sell-off we're seeing, the margin requirement story that we talked yesterday about, any validity to any of that, or is it simply this is a stock that has dominated the action over the course of a year, and people are just taking profits where profits are to be taken. >> i think again a lot of the participation in the stock is short term thinking which is problematic and we'll expand upon that at a later point. again, we talk about the fundamentals of this company and i just don't get it. i know dennis yo
i don't think it's over and we do think it will rebound next year. >> steve, good to have you on the show, appreciate it so much. >> thank you. >> steve milunovich from ubs. >> you made a good point before we came on air and what it was i thought about is that we're seeing some notable hedge funds suffer big withdrawals at the end of the year. apple was a key holding for the hedge funds, they're liquidating the decisions and expectations of redemption. if that's the case...
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did not work. >> let me disagree with steve. the problem is not simple police we don't want to cut -- we don't want to raise taxes. if you look at this thing from a balance sheet perspective, raising taxes and cutting spending will do the same thing. they take money out of the economy. i think that that's true. i think we're going to go through two quarters of the recession. it will be a mild recession, 1.5% consecutive quarters down, and then we'll have, according to the cbo by the end of the year, a little less than 2% growth. we have to deal with this deficit. this is never going to be easy. i think it's worth having a mild recession, popping out of it after two quarters. i think it's worth making some of these cuts and worth everybody having to pay the same taxes when bill clinton was done. otherwise we're going to keep kicking this can down the road, and we're never going to get to the deficit. that is a big problem >> you know, governor -- >> alan greenspan agrees with him, by the way. do you think a mild recession, as he
did not work. >> let me disagree with steve. the problem is not simple police we don't want to cut -- we don't want to raise taxes. if you look at this thing from a balance sheet perspective, raising taxes and cutting spending will do the same thing. they take money out of the economy. i think that that's true. i think we're going to go through two quarters of the recession. it will be a mild recession, 1.5% consecutive quarters down, and then we'll have, according to the cbo by the end...
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so who's right, steve? the market seems to be perplexed here because the stock market sold off during the news conference that you were at. and got your three questions in, by the way, i think at the top. and then it's down again today at the lows of the day. >> you know, it's interesting, should i be grade being the students or grading the professor? i guess that's the question i have. in a sense, they get to always be right in the following way. bernanke wants you to have a message. if you don't get that message, it's his fault. and it's not clear to me that -- he may have failed in this regard. i thought stephanie came closest to what i think the fed chairman's trying to do, which was yesterday convey a policy that we are easier than we thought -- than you thought we would be. and that 6.5% unemployment is supposed to convey that we're not calendar day certain. we are data certain. and unless that data gets down to being closer to what we want it to be, then we're going to stay on hold. and by the way, t
so who's right, steve? the market seems to be perplexed here because the stock market sold off during the news conference that you were at. and got your three questions in, by the way, i think at the top. and then it's down again today at the lows of the day. >> you know, it's interesting, should i be grade being the students or grading the professor? i guess that's the question i have. in a sense, they get to always be right in the following way. bernanke wants you to have a message. if...
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i agree with you. >> from a technical standpoint i agree with steve. he's spot on. goldman looks like if it can peek its head up above the near term trend line it goes higher. bank of america if you're in the name you need to take it off. way, way, way overbought. >> what are you smiling for? >> i like to smile. i enjoy smiling. it makes me feel good about the day, scott. i'm a happy guy. >> facial expressions are priceless. >> i looked at you. we shared some quick eye contact. i smiled. fundamentally -- >> should i leave? >> no. understoodmentally you have to look to financials. look at the move in them. look at the repair of the balance sheet. you have to look at all these reserve releases that you're going to continue to see in 2013. you have to look at the expense management also. i think financials are one of the leading sectors in 2013. you don't move away from it whether it's goldman sachs, morgan stanley or jpmorgan. you actually invest more in it and trade less. >> i own b of a. i'm not taking anything off the table. it's a compellingly cheap stock. from a
i agree with you. >> from a technical standpoint i agree with steve. he's spot on. goldman looks like if it can peek its head up above the near term trend line it goes higher. bank of america if you're in the name you need to take it off. way, way, way overbought. >> what are you smiling for? >> i like to smile. i enjoy smiling. it makes me feel good about the day, scott. i'm a happy guy. >> facial expressions are priceless. >> i looked at you. we shared some quick...
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stay with us. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> welcome back to "power h."on johnson&johnson getting expanded approval for the fda for the use of its drugs to treat men with late stage prostate cancer prior to recovering from chemo -- receiving chemotherapy, that is t
stay with us. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. monarch of marketing...
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. >> i hear what steve just said. but given the jobs report, we've also seen a drop in gasoline prices. when you get the -- when you remember the prices fell by gasoline. your decline in prices. that's a big increase in consumer spending and probably income last month. so i think consumers can replenish savings just a little bit and still have spending. you also have at the upper end $20 billion and growing of dividends declared this month. to beat the tax hike. that's $20 billion of cash flow that higher income individuals, not all of them but many of them will get. and much of that will end up being spent. >> you acknowledge that university in michigan consumer sentiment, that was big decline. and much of that is attributable to fears about the fiscal cliff. all bets could be off the table if we go off the fiscal cliff. >> sure if you go over the cliff. and you'll still have some tax hikes. we have consumer spending around 2% in real terms in line with income. we don't think the whole tax hikes will go into effect e
. >> i hear what steve just said. but given the jobs report, we've also seen a drop in gasoline prices. when you get the -- when you remember the prices fell by gasoline. your decline in prices. that's a big increase in consumer spending and probably income last month. so i think consumers can replenish savings just a little bit and still have spending. you also have at the upper end $20 billion and growing of dividends declared this month. to beat the tax hike. that's $20 billion of cash...
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these are things, by the way, i have been back and forth with steve stanley. more people would work, right. but what happens to fed policy? does it remain the same? when do i get nervous? think about what your investors were saying? when should i sell bonds and buy equities? will there be a fed policy? admitted he bernanke did say that 6.5 -- >> isn't he going to stop buying treasuries and mortgage dash back security -- >> hold that thought. >> okay. >> what happens between 6.5 unemployment and 5.5, which is the natural rate. or where the fed thinks the long run unemployment rate. is when do you do that? and finally, the thing that i would come back with t.to, whate gauges for qe. there are two policies, tyler, and two rules. qe policy is not the -- >> is bond buying. >> it is different from the rate policy, which is tied to 6.5% unemployment. what we need to do, what your other investor guys, is sell me a derivative that takes my bond portfolio and henls my equity portfolio to those two numbers. because remember, we had a time limit mid 2015, that corresponde
these are things, by the way, i have been back and forth with steve stanley. more people would work, right. but what happens to fed policy? does it remain the same? when do i get nervous? think about what your investors were saying? when should i sell bonds and buy equities? will there be a fed policy? admitted he bernanke did say that 6.5 -- >> isn't he going to stop buying treasuries and mortgage dash back security -- >> hold that thought. >> okay. >> what happens...
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craig, when does steve balmer have to go? >> i'm going to stay away from that question, brian, but, you know, microsoft does have the added challenge of it doesn't want to compete too aggressively with the hardware vendors that it's competing against in own customers in the tablet market to some degree. so it can't get real cheap, or it's going to make guys like lenovo very upset. >> craig, thank you very much for joining us. thank you for playing along in the beginning. thanks for keeping it clean. >> you got it. >> next up, we're going to give you the story behind the video of the day. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. test. test. test. test. or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happen
craig, when does steve balmer have to go? >> i'm going to stay away from that question, brian, but, you know, microsoft does have the added challenge of it doesn't want to compete too aggressively with the hardware vendors that it's competing against in own customers in the tablet market to some degree. so it can't get real cheap, or it's going to make guys like lenovo very upset. >> craig, thank you very much for joining us. thank you for playing along in the beginning. thanks for...
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steve, thank you very much. appreciate it. of course go to cnbc.com for more information. >> we will have coverage of the fed decision at 12:15 p.m. eastern time. brian sullivan will be hosting that. of course followed by mr. bernanke's news conference. coverage of that begins "street signs" 2:00 p.m. eastern time. mr. liesman will probably be at that news conference. come on over here, mr. liesman. we have a very special guest. there is a lot of people in washington that can't get no satisfaction today chuck lavelle, small business optimism plunging, election, storm sandy adding to fiscal cliff worries. joining us special guest chuck labelle, the keyboardist for rolling stones if you don't know. co-founder of mother nature network which just merged with discovery and author of a book, growing a better america. since woodall rodgers a business network, i have to ask you, you're a businessman. does this fiscal cliff stuff worry you and the prospect of higher taxes worry you? what do you think? >> i think it worries all of us, d
steve, thank you very much. appreciate it. of course go to cnbc.com for more information. >> we will have coverage of the fed decision at 12:15 p.m. eastern time. brian sullivan will be hosting that. of course followed by mr. bernanke's news conference. coverage of that begins "street signs" 2:00 p.m. eastern time. mr. liesman will probably be at that news conference. come on over here, mr. liesman. we have a very special guest. there is a lot of people in washington that can't...
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steve liesman joins us with the results there cnbc's latest fed survey. steve? can you make it any better? >> i don't know about that. what we have, andrew, is overwhelming support from our -- or expectation from our respondents, 48 respondents, economists, wall street strategists, and analysts, that the fed will replace twist with outright asset purchases. disagreement on how they'll do it and increasing concern about all these purchases and the effect on the market. let's start off with the disagreement about how they're going to do it. we asked people, will the fed purchase only treasuries when it replaces operation twist? or will it purchase treasuries and mortgages? you can see that they're about split on this. unclear what chairman bernanke is going to announce tomorrow. now, how about how much qe? they're pretty united on that. this is what we call distributions. the percentage of respondents answering which number. you can see pretty much the biggest priority, 35% at $85 billion. so that's $40 billion that they're doing already and then replacing twist w
steve liesman joins us with the results there cnbc's latest fed survey. steve? can you make it any better? >> i don't know about that. what we have, andrew, is overwhelming support from our -- or expectation from our respondents, 48 respondents, economists, wall street strategists, and analysts, that the fed will replace twist with outright asset purchases. disagreement on how they'll do it and increasing concern about all these purchases and the effect on the market. let's start off with...
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conversation with our steve liesman. in corporate news, the apple coming off its worst day ofs losses this almost four years. u.s. equity futures, though, not too bad so far today. indicated up about 15 points. today is thursday, december 6th, penultimate day before the day of infamy. "squawk box" begins right now. >> welcome to "squawk box." i'm becky quick along with joe kernen. andrew ross sorkin is on vacation this week. onset with us is drew mattis. welcome. thanks for getting up early. >> i'm always up at this time. >> we'll be going through secretary geithner's comments, but first let's get you up to speed on other stories. joe was talking about apple. it has been a rough ten weeks for the most valuable u.s. company. shares tumbling more than 6% yesterday shedding $35 billion of market value. among the reasons cited by analysts, a forecast by an influential research firm suggesting that the iphone and ipad maker is continuing to give up ground it rival the android gadgets. there were also unconfirmed reports that
conversation with our steve liesman. in corporate news, the apple coming off its worst day ofs losses this almost four years. u.s. equity futures, though, not too bad so far today. indicated up about 15 points. today is thursday, december 6th, penultimate day before the day of infamy. "squawk box" begins right now. >> welcome to "squawk box." i'm becky quick along with joe kernen. andrew ross sorkin is on vacation this week. onset with us is drew mattis. welcome....
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great interview today with steve tanger the "new york times." that will get you where you need to go. please do that. way too overweighted in oil. >>> time for an important public service announcement. history is not spongeable or ideological. it's not an abstraction. that's exactly what's happening right now when people talk about the origins of the bull market. they coincided with the clinton era. the one that started in 1992 and continued until 2000. with the dow powered from 3200 to 11,000. let's get our facts straight. first the move did happen. i don't want any galvanizers out there. seem to be plenty of clinton haters around who would like to believe the rally didn't even occur. well, occur it did. of course the discussion right now centers on what happens to the stock market if we go back to the clinton year tax rates. most democrats say the raises did not hurt the stock market back then but because deficit and interest rates went down it helped. most republicans want to ignore that analysis entirely or say the rally occurred because of
great interview today with steve tanger the "new york times." that will get you where you need to go. please do that. way too overweighted in oil. >>> time for an important public service announcement. history is not spongeable or ideological. it's not an abstraction. that's exactly what's happening right now when people talk about the origins of the bull market. they coincided with the clinton era. the one that started in 1992 and continued until 2000. with the dow powered...
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great interview today with steve tanger in the "new york times." that will get you where you have to go. please do that. way too overweighted in oil. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults and children one year and older whose flu symptoms started within the last two days. before taking tamiflu tell your doctor if you're pregnant, nursing. have serious health conditions, or take other medicines. if you develop an allergic reaction, a severe rash, or signs of unusual behavior, stop taking tamiflu and call your doctor immediately. children and adolescents in particular may be at an increased risk of seizures, confusion or abnormal behavior. the most common side effects are mild to mode
great interview today with steve tanger in the "new york times." that will get you where you have to go. please do that. way too overweighted in oil. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor...
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i'm becky quick along with joe kernen and steve liesman. the november jobs report is now just about 150 minutes away. count do countdown is on. the economy probably added about 80,000 jobs last month. reuters consensus is a little higher at 93,000. the unemployment rate expected to hold steady at 7.9% and economists say the slow down in nonfarm payrolls will reflect the effect of sandy. joining us this hour is bank of america merrill lynch global research senior research economist michelle mire and we'll talk through everything that's been happening through jobs and what to expect. but first, there is a developing story. an earthquake off the northeast coast of japan triggered a tsunami warning. the warning has been lifted, but it was a 7.3 quake. so far no reports of any injuries or damage. it was for the same area devastated by an earthquake and tsunami back in march of last year. we will continue to bring you any developments. in the meantime, steve has some of the morning's top other stories. >> let's start with the markets. asian stock
i'm becky quick along with joe kernen and steve liesman. the november jobs report is now just about 150 minutes away. count do countdown is on. the economy probably added about 80,000 jobs last month. reuters consensus is a little higher at 93,000. the unemployment rate expected to hold steady at 7.9% and economists say the slow down in nonfarm payrolls will reflect the effect of sandy. joining us this hour is bank of america merrill lynch global research senior research economist michelle mire...
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. >> and then larry, later in the afternoon, our steve leishman sat down with treasury secretary tim geithner. geithner in that interview late in the afternoon made it clear that this is brinksmanship of the highest order. >> i want to understand the administration's position when it comes to raising taxes on the wealthy. those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthy. it's only 2%. >> reporter: of course, up on capitol hill, republicans don't necessarily agree with that. speaker of the house john boehner said today that he is still waiting for a counterproposal now from the president of the united states. and we learned late this afternoon that in fact speaker boehner and president obama had a phone call today. we don't know, however, what was said in that call. but reports are that some progress is being made in these negotiations. at least conversations continuing behind the
. >> and then larry, later in the afternoon, our steve leishman sat down with treasury secretary tim geithner. geithner in that interview late in the afternoon made it clear that this is brinksmanship of the highest order. >> i want to understand the administration's position when it comes to raising taxes on the wealthy. those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's...
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. >> steve sedgwick has the latest and joins us now. hi, steve. >> i like that shuffle, steve. that was good. >> reporter: i've got a treat for you. guys, kelly, ross, i've got a treat. the nigerian oil minister has asked me kindly to join -- you are absolutely freezing. thank you very much for joining us. i know you've got a very important meeting coming up. how do you feel about world oil supplies at the moment? >> well, i think right now we're holding fairly stable. we're of course concerned that there will be a certain level of overproduction over the next 18 months or so if the production continues. >> reporter: saudi arabia need to take oil off the table cd iraq? >> i think those are issues we'll discuss today. >> reporter: what is the most contentious issue? we have been saying the most contentious issue could surround saudi arabia and iran. some estimates of over one million barrels a day. >> again, i would not preempt this meeting and outcome by giving statistics at this point. i think it's critical that we go in and have discussions amongst ourselves and come to the s
. >> steve sedgwick has the latest and joins us now. hi, steve. >> i like that shuffle, steve. that was good. >> reporter: i've got a treat for you. guys, kelly, ross, i've got a treat. the nigerian oil minister has asked me kindly to join -- you are absolutely freezing. thank you very much for joining us. i know you've got a very important meeting coming up. how do you feel about world oil supplies at the moment? >> well, i think right now we're holding fairly stable....
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steve tanger is talking about having a terrific holiday season. go to "the new york times" and read it. >> deutsche bank takes down novartus. >> i wouldn't sell this stock. >> piper upgrading. >> i've been watching the king stock go up. it seems like there's some sweet spot for gaming. it's probably okay now. >> then affirmation here. >> big cap stocks have been saying, look, things are fine. 3m, danner, these are not supposed to be fine. maybe something's better. >> all right. nicely timed once again. let's get some breaking news in washington. ayman? >> carl, this is actually breaking political news. today announcing new regulations on so-called 501 tax-exempt organizations that engaged in electioneering under federal law as it stands right now, they're allowed to engage in electioneering and not reveal who their donors are. now schneiderman in new york saying the state is going to require them to reveal if they spend up to $10,000 in that state. the groups that spend at least $10,000 to influence state and local elections in new york will be re
steve tanger is talking about having a terrific holiday season. go to "the new york times" and read it. >> deutsche bank takes down novartus. >> i wouldn't sell this stock. >> piper upgrading. >> i've been watching the king stock go up. it seems like there's some sweet spot for gaming. it's probably okay now. >> then affirmation here. >> big cap stocks have been saying, look, things are fine. 3m, danner, these are not supposed to be fine. maybe...
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steve, no dolphins -- i thought dolphins -- how many games did you lose? >> well, we've lost seven games. >> you won a few good games. >> at the end of the day, you're in the business to win. you don't like being under 5-7 isn't exactly -- >> have you talked to woody? >> woody is one guy who will make me feel better. >> new york is a lousy place if you're not winning. >> to stink. >> any place is a lousy place if you're not winning. >> exactly, in january i'd rather be losing in miami than in new york. >> that's because you don't own the team. >> thank you very much. >> thank you. pleasure being here. >>> when we come back. we have a lot still to come. steny hoyer on the fiscal cliff talks. then at 8:15 eastern, we have the adp numbers. mark zandi is here to talk through the market reaction. >>> 8:40 eastern, jeffrey solomon will be stopping by. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one
steve, no dolphins -- i thought dolphins -- how many games did you lose? >> well, we've lost seven games. >> you won a few good games. >> at the end of the day, you're in the business to win. you don't like being under 5-7 isn't exactly -- >> have you talked to woody? >> woody is one guy who will make me feel better. >> new york is a lousy place if you're not winning. >> to stink. >> any place is a lousy place if you're not winning. >>...
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steve balmer? you don't think steve gates will fire him, do you? >> i'm not sure what he's thinking. bill gates and balmer are friends, there's loyalty there. but balmer is running a circus at microsoft right now. windows 8 is not anything that he thought it would be. the surface tablet the same thing. i think they have an opportunity at xbox, that they're not taking advantage of. it's a matter of not being aggressive and going with the same old tools and working out of the same old toolbox. i know david is there. the interviews he's done with meg whitman is unbelievable. he asked her how many different ways why are you still in the printing business, meg? she gives the same answer over and over again. we need transformational ceos in the tech companies or they'll go by the wayside. >> you cite actually marisa meyer, and the yahoo effect she has by moving over. to that end, talk me through where you are on other companies that might be drawn into that. >> well, i think best buy was the best example. they had the same search firm that was -- you kno
steve balmer? you don't think steve gates will fire him, do you? >> i'm not sure what he's thinking. bill gates and balmer are friends, there's loyalty there. but balmer is running a circus at microsoft right now. windows 8 is not anything that he thought it would be. the surface tablet the same thing. i think they have an opportunity at xbox, that they're not taking advantage of. it's a matter of not being aggressive and going with the same old tools and working out of the same old...
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steve, thanks so much for your time. steve fox, marijuana policy project in washington. >> house speaker john boehner is to speak on the fiscal cliff negotiations in just a few minutes. we'll bring you those comments live as soon as he starts speaking. plus, former ohio governor ted strickland will join us. he says republicans are not acting in the best interest of the country when it comes to the fiscal cliff and explain exactly why he's saying that on cnbc. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. i have obligations. cute toblig
steve, thanks so much for your time. steve fox, marijuana policy project in washington. >> house speaker john boehner is to speak on the fiscal cliff negotiations in just a few minutes. we'll bring you those comments live as soon as he starts speaking. plus, former ohio governor ted strickland will join us. he says republicans are not acting in the best interest of the country when it comes to the fiscal cliff and explain exactly why he's saying that on cnbc. [ male announcer ] this is...
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steve is going to be at that opec meeting in vienna. so don't miss out on that. >>> in asia tomorrow, japan releases machinery orders for november. also india will release november cpi. and glenn stevens will give a key speech to the bank of thailand in bangkok. >> we're going to take a quick break. head over to cnbc.com for stories that are currently trending. first, billions of dollars stashed overseas, find out who they are. and concern over departure of prime minister mario monti. and the fiscal cliff is still getting you cooking? head to cnbc.com for the latest. we'll also have a sneak peek of what the "squawk box" team has prepared. >>> still to come on the show, after some high profile dubs like facebook, the ipo market was new this year. but a new report says things will change in 2013. find out why. >>> eurozone finance ministers will discuss greece's buyback. last friday, the deadline was extended to this afternoon after they failed to reach a 40 billion euro target. the two-day summit in brussels on thursday is expected to pr
steve is going to be at that opec meeting in vienna. so don't miss out on that. >>> in asia tomorrow, japan releases machinery orders for november. also india will release november cpi. and glenn stevens will give a key speech to the bank of thailand in bangkok. >> we're going to take a quick break. head over to cnbc.com for stories that are currently trending. first, billions of dollars stashed overseas, find out who they are. and concern over departure of prime minister mario...
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steve, good morning. >> good morning, becky. thanks. the stronger than expected jobs were not making believers of many economists. they continue to expect weak fourth quarter growth after that number came in at 146,000 with an expectation of around 85,000. fourth quarter growth estimates range from a low of below a half a point, 0.4%. that coming from morgan stanley. the high from what i could gather this morning, 1.5% at jpmorgan. remember that third quarter growth was 2.7 pfrs. a lot of this, though, is going to be inventories. suggesting the growth back drop a little bit stronger than what the number might imply. but the declining unemployment rate fell 0.2 to 7.7% complicates the job for the fed which is expected to place operation twist, where it sells short-term securities and buys long-term ones, with just outright asset purchases on the long end. here's the fed forecast for the fourth quarter. notice the actual there, at 7.7%. it's now at -- the forecast for the end of this year,.1%. it's now averaging you can see there on the l
steve, good morning. >> good morning, becky. thanks. the stronger than expected jobs were not making believers of many economists. they continue to expect weak fourth quarter growth after that number came in at 146,000 with an expectation of around 85,000. fourth quarter growth estimates range from a low of below a half a point, 0.4%. that coming from morgan stanley. the high from what i could gather this morning, 1.5% at jpmorgan. remember that third quarter growth was 2.7 pfrs. a lot of...
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is that the same as product genius and marketing genius that steve jobs had? we'll have to evaluate that over the next year. he has taken apple to be the largest listed market capitalization company on any u.s. exchange. now we'll see what he can do over the next 12 months or 14 months to find new markets and to continue growth. >> all right. colin, thank you for phoning in. >> euro retreating from a seven-week high against the dollar on poor demand for spanish bond auction today and indeed it must be said weaker than eurozone retail sales figures. andy, welcome. where does the euro go from here? >> hi, simon. there's a couple things that make me worried about the euro today. we made a higher high and are making a lower close. as we get into this week, we have only one more week before things turn over as far as risk goes in the financial markets. i'm worried about the fiscal cliff, yes. negotiations look ugly. also i'm worried about u.s. stocks once they start to go ex-dividend and costco and disney on december 10th will be poster children for what happens to
is that the same as product genius and marketing genius that steve jobs had? we'll have to evaluate that over the next year. he has taken apple to be the largest listed market capitalization company on any u.s. exchange. now we'll see what he can do over the next 12 months or 14 months to find new markets and to continue growth. >> all right. colin, thank you for phoning in. >> euro retreating from a seven-week high against the dollar on poor demand for spanish bond auction today...